An encouraging atmosphere of innovation and technology

The Hong Kong Science and Technology Parks Corporation held its Career Expo @Science Park a couple of days ago. Both the number of participating companies as well as the innovation and technology positions offered in the Expo registered a record high. The number of vacancies increased significantly from 300 in 2013 to 1 000 this year, while the number of job applicants also jumped from 2 000 to 5 400.  These are welcome developments.

With the establishment of the Innovation and Technology Bureau at the end of last year and the vigorous efforts of the Bureau Secretary, Mr Nick Yang and his team, we are creating a supportive atmosphere of innovation and technology in Hong Kong. I also proposed in my Policy Address earlier this year that nearly $5 billion be set aside to support the innovation and technology industry.

Hong Kong's universities have attained world-class standards in innovation and technology. However, owing to a lack of a supportive atmosphere in the community and the small number of innovation and technology positions, there were not enough channels for our young people to pursue careers in this field. Today, with the building up of a favourable environment and increasing job opportunities, the growth of the innovation and technology sector is gaining good momentum.

With the implementation of the proposals I put forth in the Policy Address, the Hong Kong innovation and technology industry will certainly add new impetus to the development of our economy. This is particularly important in the face of a global economic downturn.

March 7, 2016